Nickel-Metal hydrides negative electrode active materials used as negative electrodes materials of rechargeable batteries can be classified into two kinds of hydrogen storage alloys, one is Ni--Zr--Ti series developed from Ti.sub.2 Ni and TiNi, another is misch metal series developed from LaNi.sub.5. Hydrogen storage alloys used as negative electrode materials of rechargeable batteries should meet the following requirements: good anti-alkaline-corrosion properties; high hydrogen storage capacity, appropriate hydrogen equilibrium pressure (generally should be less than 0.5 MPa); high electrically catalytic activity; low pulverization ratio during hydrogen absorption and desorption process; no pollution on environments, and low cost etc. Ni--Zr--Ti series alloy has good comprehensive properties, and misch metal series alloy is a relatively lower cost hydrogen storage alloy used as negative electrode material. Japanese Patent Application No. 16614/1988 (Sep. 7, 1988) and European Patent Application No. 0206776 (1986) disclose two misch metal series hydrogen storage alloys used as negative electrode material of rechargeable batteries, and they have the characteristics of good negative electrode activity and low cost. However, these two hydrogen storage alloys are easy to be pulverized after hydrogen absorption and desorption, the crystal cell volume expansion ratio is as high as 20 percent. In addition, the rare earth elements used in these two hydrogen storage alloys tend to segregate toward the powder surface during the hydrogen absorption and desorption process due to the internal stress. The rare earth elements segregated at the powder surface will form hydroxides thereof under the action of KOH solution presented in the batteries and cause corrosion, and finally the hydrogen absorption and desorption abilities of the hydrogen storage alloys will be lost, and the cycle lifetime of the hydrogen storage alloys will be greatly decreased.